Prediction Markets + Market Predictions = Collective Forecasting That Pays Off

Tag Archives: advanced researcher

Info Value = the added accuracy the markets provide relative to other mechanisms, times the value that accuracy can give in improved decisions, minus the cost of maintaining the markets, relative to the cost of other mechanisms.

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Robin Hanson:

A highly accurate market has little value if other mechanisms can provide similar accuracy at a lower cost, or if few substantial decisions are influenced by accurate forecasts on its topic.

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[Here's Robin Hanson's website. For your information (if you are a newbie), Robin Hanson is the most advanced researcher in the field of prediction [...]

A highly accurate prediction market has little value if other mechanisms can provide similar accuracy at a lower cost, or if few substantial decisions are influenced by accurate forecasts on its topic.

Robin Hanson – Overcoming Bias -
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Robin Hanson at LinkedIn
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Robin Hanson:

Info Value = the added accuracy the markets provide relative to other mechanisms, times the value that accuracy can give in improved decisions, minus the cost of maintaining the markets, relative to the cost of other mechanisms.
A highly accurate market has little value if other mechanisms [...]

Do Google’s enterprise prediction markets work? — Using Prediction Markets to Track Information Flows: Evidence from Google

Using Prediction Markets to Track Information Flows: Evidence from Google – (PDF file – PDF file) – by Bo Cowgill, Justin Wolfers, and Eric Zitwewitz – 2008-01-06
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VIDEO — Bo Cowgill on Google’s enterprise prediction markets — O’Reilly Money:Tech
Blip.TV — (FLV file)
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I’ll first publish some excerpts from the paper on Google’s enterprise prediction markets (set up [...]

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